Stocks in the United Sates subsequently grew on Tuesday’s trade driven by the released quarterly earnings from large capitalization companies.
The Dow Jones Industrial average added more than 230 points; McDonalds and Caterpillar were one of the leading advancers. The S&P 5000 was 0.6 percent higher. About 190 companies of this index are forecasted to release their earnings before this week ends, some of the composites include Microsoft, Amazon, General Motors, Boeing, and Alphabet.
Meanwhile the NASDAQ composite climbed by 0.7 percent and for the first time it brought the index above 6,000. Managing partner of Cornerstone Financial Partners Jeff Carbone said that 40 percent of NASDAQ is being driven by its companies Netflix, Amazon, Apple, Facebook, and Alphabet. He added that the index will suffer if those companies went on a downturn.
Most of the stock indexes in the United Sates were on the positive territory on Monday’s trade when the first round of the presidential vote in France went as predicted. Far-right candidate Marine Le Pen was surpassed by centrist Emmanuel Macron on the runoff.
Still, investors kept its eye on Washington when U.S. President Donald Trump tried to prevent a shutdown from the government. His administration is also anticipated to announce a potential tax reform plan anytime this week.
Expectations on a tax reform are one of the main drivers of the market since the election started. Baird’s chief investment strategist Bruce Bittles noted that tax reform and earnings are the center of attention of investors and the all-time highs of the NASDAQ composite are a proof that the market is in a strengthening state.